Sports books in Nevada are now allowed to take bets on the NFL draft, and this year that turned out to be good for bettors and bad for the house.
The Westgate and William Hill sports books both lost money on a draft that turned out to be unpredictable, according to ESPN.
A common type of bet in Las Vegas is which of two players will be chosen first. This year a bad one for the sports books was whether Saquon Barkley would go ahead of Josh Rosen. The sports books set the odds in Rosen’s favor, figuring in today’s NFL a quarterback is a safe bet to go ahead of a running back. But most of the bettors put their money on Barkley, and when Barkley did go first the bettors won money and the house lost.
In the past Nevada did not allow betting on the NFL draft, but last year the law was changed. Next year, if the Supreme Court overturns the law preventing states other than Nevada to permit sports betting, the NFL draft could become a huge betting holiday around the country.